2012 Fiscal Summit convened by Peter G. Peterson Foundation on May 15, with participants including President Bill Clinton, Speaker of the House John Boehner, Secretary of the Treasury Timothy Geithner, Senator Rob Portman, Congressman Paul Ryan, Congressman Chris Van Hollen, Congressman Xavier Becerra, and National Commission on Fiscal Responsibility and Reform Co-Chair Alan Simpson, features discussions about the fiscal, economic and political crossroads facing the country

WASHINGTON, D.C. (Tuesday, May 15th, 2012) — Against the backdrop of upcoming elections, and with a series of key fiscal deadlines approaching at the end of the year, the Peterson Foundation’s 2012 Fiscal Summit–America’s Case For Action convenes the nation’s leading fiscal policy experts and elected officials at a critical moment of opportunity to make progress on America’s long-term fiscal challenges.

Now in its third year, the Fiscal Summit has become the premier annual gathering dedicated to advancing solutions to America’s long-term fiscal challenges. At the Foundation’s 2010 Summit, participants discussed the fiscal challenge, and the need to take action on the nation’s unsustainable long-term debt and deficits. A year later, the second annual Summit brought together key elected leaders and experts from across the ideological spectrum to outline a variety of concrete fiscal solutions. Through a series of interviews, presentations and panel discussions, this year’s Summit will explore the opportunity and urgent need for action on our fiscal challenges, as well as highlight the voices of engaged citizens from across the country.

With tax cuts set to expire and automatic spending cuts approaching at the end of this year, the nation’s leaders have more incentive than ever to work together to put the country back on a long-term sustainable path. A recent survey commissioned by the Peterson Foundation showed that the American people are ready for action on fiscal issues—large majorities of both conservative and liberal voters want both parties to work together to solve our long-term fiscal problems, and voters across the board indicated they are willing to do their part to reduce the national debt.

“The greatest threat to our nation’s future growth, prosperity and opportunity is our unsustainable fiscal path,” said Foundation Chairman Peter G. Peterson. “The goal of the Fiscal Summit is to bring people from across the ideological spectrum together to help build the political will necessary to achieve major fiscal reform. Americans have shown they are ready for a solution and willing to do their part, and the key fiscal events at the end of the year represent a real opportunity for Washington to get something done. What we need to do is agree to a long-term fiscal plan now that gets implemented when the economy recovers. We cannot kick the can down the road forever, and the sooner our leaders agree on a long-term plan, the easier it will be.”